... recession, however, it does provide an indication of the problems that may emerge. Social implications Social implications arise from the concentration of resources into housing wealth; homeowners may suffer through having increased debt and there are implications for financial and sustainable welfare...

.... Crisis can temporarily align conflicting interests to achieve a greater good. Recession Regulation Economic reform © Emerald Group Publishing Limited 2009 Andrew W. Lo can be contacted at: alo@mit.edu However, it is important to balance the desire for transparency against...